What drove BX's strong earnings in Q3 2024?

Blackstone's strong earnings in Q3 2024 can be attributed to several key factors:

1. **Revenue from Realized Performance and Principal Investment Income**: Blackstone generated approximately $225 million of realized performance revenue and $45 million of realized principal investment income from the start of Q3 through Sept. 24, 2024. This indicates a healthy flow of income from its investment activities.
2. **Strategic Investments**: The company's strategic investments in areas such as real estate and alternative asset classes have likely contributed to its earnings. For instance, the investment in the European AI data centre is a significant move that could potentially yield high returns.

In conclusion, Blackstone's strong earnings in Q3 2024 are primarily driven by its successful realization of investment income and strategic investments.